Bankers’ Objections in Business Acquisitions

A recent article from the International Business Brokers Association (IBBA) talks about the ‘Banker’s Dozen’ objections compiled from one of the top SBA lenders in the country.    To have a successful and timely closing, start discussing documentation needed and addressing concerns early in the process. Below are some of the due diligence items needed

Successful Business Transaction – Custom Cabinet Showroom

In January the successful business transaction of a custom cabinet shop in Wisconsin. The seller decided to sell now because the market was right. He knew he could get the value of the business in today’s market. This business sold within six months of the listing date. This business has both residential and commercial customers

Buying an Existing Business

Are you in the market to buy a business? Many baby boomers who own an established business are looking to retire. Many of these owners have grown the business but are realizing they don’t have the drive to expand and grow it.  And they may have the staff in place to run it and want

SOLD! Fabricator and Manufacturer of Stone Products

In December this long established fabricator of all type of natural stones and manufacturer of veneer stone products was successfully transferred to a new owner.    This business was on the market for nine months and had over fifty interested buyers.    Some of the highlights of this business: a very experienced and skilled professional

2018 – Right Time to Sell your Business?

Optimism for small & medium business owners is strong. According to a National Federation of Independent Business survey released last week, business optimism is reaching an all time high. This is the highest since 1983; small business optimism has not been this high since the Reagan economy. Because of the strong business climate,  2018 may

Holiday Office Party at Lakes Business Group

Our office is having our annual holiday office party next week.   Although, we haven’t really ‘decked the halls’ in our office, we do enjoy planning a party with good food, since our team appreciates good food. The holiday party is a time for our team to get together in a more casual setting where we

Doing Business in 2018

Knowing the trends helps us to prepare as we continue to grow our business so that when it’s time to sell, the business is still relevant. What are some of the trends for the coming year?  Following are a couple of 2018 business trends that have been coming up in articles the past year. 1-

Your Successful Business Transaction – Telling your Employees

Selling your business is a confidential process.  Have you considered during the process the future of your employees and their reaction of the business having a new owner?    Disclosing information as you start your exit strategy can do harm during the process and jeopardize a successful transaction.  So how and when do you tell

Successful Transaction of this Electronic Component Distribution Business

After 11 months of searching for the right buyer, this Wisconsin distributor of passive electro-mechanical component parts has been SOLD!   The owner of this business was ready to retire and called Lakes Business Group to help with the sale of his business. As one of the Midwest’s premier distributor of switches, connectors, and terminal blocks

Due Diligence Helps your Success Rate

In the due diligence process, we keep a spreadsheet of the items needed and completion dates to keep our client and the buyer group on task.   For our lower-middle market businesses and private equity groups, there are pages of items needed for a comprehensive due diligence process which is needed for a successful deal. Last